India and IBRD signs Grant Agreement for Additional Financing in MSME Project.

India and IBRD signs Grant Agreement for Additional Financing in MSME Project. India on December 13, 2016, signed a Grant Agreement of USD 5.19 million with International Bank for Reconstruction and Development (IBRD) for Additional Financing for Financing Energy Efficiency at MSMEs Project- Programmatic Framework for Energy Efficiency. The agreement was signed by Raj

Kumar, Joint Secretary at Department of Economic Affairs on behalf of the Union Government and Junaid Ali Ahmad, Country Director of World Bank (India) on behalf of IBRD.

The agreement signed was a part of the parent project – India: Financing Energy Efficiency at MSME Project (FEEMP) that was initiated from September 29, 2010 with Grant amount of US$ 11.3 million.

The parent project aimed at increasing demand for investment in energy efficiency in micro, small and medium enterprise sector and build their capacity to access commercial finance.

The additional financing agreement will bridge the gap in understanding between different stakeholders, energy professionals, technology suppliers, entrepreneurs, banks and financial institutions and also contribute to achievement of the initiative taken under parent project.

IBRD :

India & IBRD♦ The International Bank for Reconstruction and Development is an international financial institution that offers loans to middle-income developing countries.

♦ Headquarters: Washington, D.C.

♦ Founded: 1944

♦ Leader: Jim Yong Kim